Stop probing Buhari's loans, it's dangerous, Amaechi warns NASS

By Editor on 29/07/2020

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The National Assembly may be doing more harm than good to the Nigerian economy by its decision to probe into the loans taken by President Muhammadu Buhari, Minister of Transportation, Rotimi Amaechi, has warned.

NAN reports that Amaechi who spoke against the backdrop of the ongoing probe of loans taken by the President, which has also been stridently criticised in many quarters, warned that such a move would send the wrong signal to the lenders.

Making his submissions at an investigative hearing organised by the House of Representatives Committee on Treaties, Protocols and Agreements in Abuja, the former Governor of Rivers State, said the investigation could cause foreign partners to withdraw such loan facilities which would have a negative effect on Nigeria’s infrastructural development.

He particularly cited the loan the government is seeking to complete the Lagos-Ibadan and Kano rail projects, saying he had since raised the concerns over the negative implications of the move by the lawmakers with with the Speaker of the House, Femi Gbajabimila, adding that if the probe must go on, it should be shifted to December when the loan facility would have been acquired.

Chairman of the committee, Nicholas Ossai (PDP-Delta), who said the committee is empowered to conduct overnight before, during or after loan facilities are acquired, explained that the committee seeks to review all Nigeria’s bilateral loan agreement to ensure the country is not shortchanged.




Source NAN

Posted on July, 29 2020

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